Coinbase announces the listing of Dogecoin after the conclusion of successful tests in May

In what has appeared to be a welcome development to crypto investors and enthusiasts worldwide, Dogecoin has been officially listed on Coinbase Pro. In a blog post by the crypto powerhouse earlier today, the coins are now available in places where trading is supported.

“Starting today, inbound transfers for DOGE are now available in the regions where trading is supported.

“Traders cannot place orders, and no orders will be filled. Trading will begin on or after 9 a.m. PT on Thursday, June 3, if liquidity conditions are met,” the post read.

However, as has been the case in previous crypto inductions, Coinbase will roll out Doge in phases, allowing post-only and limit-only orders before launching full trading.

The endorsement will see Doge establish itself as one of the world’s largest cryptocurrency exchanges in the world. Founded in 2013, Doge was created as an alternative to cryptocurrencies like Bitcoin.

Trading of Doge on Coinbase will begin at 9 a.m. on Thursday, June 7, 2021, if there is enough liquidity, the company explained.

As is the ground rule for trading on Coinbase, the organization has said Doge will only move to the next phase if their internal assessment “for a healthy and orderly market” has been met.

Answering questions and concerns from investors, the company said in a statement via its blog that “DOGE is not yet available on Coinbase.com or via our Consumer mobile apps, a separate announcement if and when this support is added.”

You will recall that Coinbase CEO Brian Armstrong has during the May 15 investors call, speculated the possible induction and launching of Dogecoin on his platform. He made the comments while responding to a question about how his organization intended to “accelerate asset addition into the future.”

In his response, he said, “There are more and more assets being created in the crypto economy. One of those is Doge, which has been getting a lot of attention recently.”

Tesla billionaire Elon Musk and godfather of the Doge crypto has in the past made conscious efforts to raise the price of the coin through his investments and online promotions.

After Brian Armstrong’s comments in May, the market value of Doge increased by 20%. His remarks came after an announcement by Elon Musk that he was working tirelessly with the developers of Dogecoins to improve the currency’s transactional efficiency.

As of today, Dogecoin sits on a market cap of $43.68 billion, making it the seventh-largest cryptocurrency on Coinbase. With a price increase of 5% within the last 24 hours, the coin sells for $0.34 and continues to amass market shares as Bitcoin and Ethereum continue to suffer from recent negative market fluctuations since the previous week.

Dogecoin experienced a 6,000% Return on Investment (ROI) this year, and analysts say the percentage will go up considering current global market trends.

There is a lot to come as the coin continues to steal headlines across the globe.

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